NOVONIX Limited Sponsored ADR (NASDAQ:NVX) Short Interest Update

NOVONIX Limited Sponsored ADR (NASDAQ:NVX) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 3,432,979 shares, an increase of 38.2% from the December 31st total of 2,483,829 shares. Based on an average daily volume of 1,970,224 shares, the short-interest ratio is presently 1.7 days. Currently, 2.1% of the company’s stock are sold short. Currently, 2.1% of the company’s stock are sold short. Based on an average daily volume of 1,970,224 shares, the short-interest ratio is presently 1.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of NOVONIX in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, NOVONIX presently has a consensus rating of “Sell”.

NOVONIX Stock Performance

Shares of NASDAQ NVX traded down $0.06 during trading on Friday, hitting $0.99. The stock had a trading volume of 1,107,988 shares, compared to its average volume of 1,641,892. The firm has a fifty day moving average of $1.14 and a two-hundred day moving average of $1.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.93. NOVONIX has a 12 month low of $0.81 and a 12 month high of $3.86.

Hedge Funds Weigh In On NOVONIX

Several large investors have recently modified their holdings of NVX. Susquehanna International Group LLP bought a new position in NOVONIX in the 3rd quarter worth approximately $65,000. Citadel Advisors LLC boosted its holdings in shares of NOVONIX by 964.1% in the third quarter. Citadel Advisors LLC now owns 109,374 shares of the company’s stock worth $140,000 after acquiring an additional 99,095 shares during the period. Bank of America Corp DE boosted its holdings in shares of NOVONIX by 335.1% in the third quarter. Bank of America Corp DE now owns 72,972 shares of the company’s stock worth $93,000 after acquiring an additional 56,200 shares during the period. GK Wealth Management LLC bought a new stake in shares of NOVONIX during the 4th quarter valued at $26,000. Finally, Southeast Asset Advisors LLC purchased a new stake in NOVONIX during the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 0.06% of the company’s stock.

About NOVONIX

NOVONIX, trading under the NASDAQ ticker NVX, is a technology-driven company specializing in the development and production of advanced materials and testing solutions for the lithium-ion battery industry. The company’s primary focus lies in supplying high-purity synthetic graphite anode materials and delivering comprehensive battery testing services to original equipment manufacturers (OEMs), research institutions, and battery producers worldwide. NOVONIX operates through two core divisions: NOVONIX Materials & Technology, which produces battery-grade graphite, and NOVONIX Battery Testing Solutions, which offers hardware and software platforms designed to accelerate battery research and development.

The Materials & Technology business segment manufactures spherical synthetic graphite anode products that meet rigorous industry standards for performance, consistency, and scalability.